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Ag Markets Finish QuietCHICAGO - Jul 7/06 - SNS -- Agriculture commodity markets are finishing the week on a relatively quiet note, with little fresh business reported overnight and North American markets watchful of the developing weather story. The western corn belt in the United States could experience a hot and dry period starting next weekend, but in the meantime conditions should be cooler with scattered shower activity. This outlook sparked overnight selling in corn. Markets are starting to consider the possibilities for the USDA'S July 12 supply and demand update. With the larger corn area estimate, unchanged yields could see the USDA lift next year's ending stock forecast from 1,091 million bushels in June to around 1,200 million this month. A lower soybean seeded area should see ending stocks drop from around 655 million to 562 million bushels by the end of the 2006-07 season. Subscribers can read the full text of the article by Clicking here
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